Automotive Turbocharger Market Overview :

Automotive Turbocharger Market is expected to witness rapid growth in the coming years supported by its rising application in automotive sector. OEM and aftermarket are the main application areas where it’s expected to experience double digit growth. The main feature making it a popular option for automobile industry is its mechanism to raise the power of the engine in order to facilitate the ease of combustion. Also, it helps to meet the standards and norms related to exhaust gases such as nitrous oxide, CO2 and particulate materials. The market is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2016 to 2024.

Rising demand for automotive turbocharger for gasoline vehicles, development of ball bearing turbocharger and electric turbocharger, engine downsizing, fuel efficiency and increasing emission norms of vehicles are the major driving factors of the market. China and India and expected to be the most promising regional market witnessing high demand in the coming years. However, North America is the largest regional market for automotive turbocharger at present.

The market is segmented into by type, by fuel type, by vehicle type and by geography. By type the scope of the report covers Variable turbine geometry turbochargers, vnt dutydrive turbocharger, wastegate turbochargers and twin turbo mainly for gasoline passenger cars. By fuel type the market has been segmented into gasoline vehicles and diesel vehicles and by vehicle type the segment covered are passenger vehicle, light commercial vehicle and heavy commercial vehicle. By geography the market is segmented into North America, Europe, Asia-Pacific and RoW. The U.S., Mexico and Canada are covered under North America wherein Europe covers France, Germany, UK, Spain and rest of Europe. Asia-Pacific covers China, India, Japan, South Korea and Rest of Asia Pacific. Rest of the World (RoW) covers South America, Middle East and Africa.